Solar Panel Loan

Harness the sun’s energy to power your home

Why you will love this

Borrow up to 6 times of your monthly income or S$30,000, whichever is lower

Flat interest rate of 2.09% per annum (monthly rest rate of 3.98%)

Who can apply

Singaporean or Singapore PR between 21 to 59 years old

An annual income of at least S$24,000

Installing solar panels on a private landed residential property by Sembcorp Power's appointed partners

Power your home with the help of OCBC Solar Panel Loan, the first of its kind in Singapore. 

Exclusive partnership

Enjoy the OCBC Solar Panel Loan by first signing up with our exclusive partner for residential solar solutions, Sembcorp Power.

Power your home with energy harnessed from the sun and enjoy its many benefits. Sembcorp Power will work with their solar installation partners to provide a complimentary onsite assessment and proposal for your residence.

Find out more

Benefits of Solar Panel Loan
Generate power while saving

Generate power while saving

Offset your bill and sell any unused power back to the national grid.

Offset your bill and sell any unused power back to the national grid.

Flexible repayment

Flexible repayment

OCBC Solar Panel Loan offers a loan tenure from 1 to 5 years.

OCBC Solar Panel Loan offers a loan tenure from 1 to 5 years.

Fast, simple and secure loan approval

Fast, simple and secure loan approval

Get your loan approved with a secure and fully digital process. From application to disbursement.

Get your loan approved with a secure and fully digital process. From application to disbursement.

How it works

Take Ryan for example:

Owns a private landed residential property and recently switched to solar energy

Installed 3 solar panels (Size M)

Net gain in value

S$77,148

Total value generated

S$23,000

(excludes admin fee of 1.5%)

Total cost of installation

=

S$54,148

Net gain in value over 25 years

Figures are for illustration purposes only, and are based on the following assumptions:

  1. The 4Q20 tariff is 21.43 cents per kWh (before GST)
  2. Assumed average solar generation capacity is 1200 kWh
  3. Estimated solar panel cost based on estimated capacity in point (2) is S$20,000, with an assumed 3% flat interest rate and a loan tenure of 5 years
  4. Assumed solar installer warranty is 25 years (i.e. the lifespan of solar panels)
  5. Savings tabulation is based on the household’s consumption of regulated tariff
Solar Panel Loan Calculator

Find out how much interest you need to pay

1
Monthly income
2
Loan amount and loan tenure
Here is how much you need to pay

Monthly income

Loan amount and loan tenure

Loan tenure

Renovation loan estimated

You qualify for

S$ 0

Based on application type
Monthly instalment S$ 0
Total interest charged S$ 0
Process
Please note that the OCBC Solar Panel Loan is a form of renovation loan. All correspondences will be reflected as a renovation loan. 

Step 1

Get your quote

Get a quotation for your solar panel from a Sembcorp Power Appointed Partner.

Step 2

Apply for the loan

With your quotation, you are now ready to apply for your loan.

If you apply without Myinfo, please prepare the following:

  • NRIC
  • Sembcorp Power Appointed Partner quotation
  • Latest IRAS Notice of Assessment
  • Pay slips for the last 3 months
Read more

Step 3

Sit back and relax

Relax and we will contact you if your loan is ready to be disbursed.

Eco-Care Loans

Do even more for the planet with OCBC Eco-Care Loans

A suite of eco loans for your home, renovation and car that comes with a host of benefits.

Find out more 

Before you apply

Eligibility requirements

Minimum age

21 years old

Nationality

Singaporeans and Singapore PRs

Minimum income

S$24,000 a year


Fees

Processing fee

S$0

Admin fee

0.5% on loan amount

Insurance premium

1% on loan amount

Cancellation fee

2% on loan amount

Prepayment fee

2% on amount prepaid

Full redemption fee

2% on outstanding loan balance

Late fee

S$80



Additional information

Online loan approval and usage are only applicable for applications via Myinfo. Please note delays or non-approvals of applications may occur for various reasons.


Ways to apply

Apply for an OCBC Solar Panel Loan today